Easy & fast
As a FHB I was quite stressed about the loan application process and deadlines. David got my loan pre-approved and final approved within less than one month! He also helped me negotiating a rate and package suited for me. Thank you! I found the process quite simple, easy and smooth. Definitely recommend.
Perfectly suited to us
The staff were prompt in their responses and factual. We received a great rate with flexibility to pay the loan off early. The system is easy to use. Our only issue - was with the nitpicking repetitive detail of information required throughout the approval process. Once it was approved all went well and we are happy with the resulting service.
Great communication and follow up but turn around time was slow from lender. Due to this documentation became outdated and requested multiple times. Great product and fantastic rate. Overall very satisfied with Reduce Home loans.
Reduce staff are great help
I chose Reduce because their rates were the most competitive, but be prepared to submit a lot more documents than other lenders, and multiple times if the process gets drawn out. Otherwise, the service I received from Jacqueline from Reduce Home Loans was fantastic. She was very helpful, even helping me to change to a lower interest option with a higher LVR midway through the application at my request and gave regular updates on how my application was progressing since my case was unique. All while she was very patient and thorough and answered...my many questions. However, I would ask the lender (mortgageez) to avoid using Galilee in future as their solicitors, since their communication was poor and unprofessional, if they had spent the time to explain what needed to be done ahead of time it would not have drawn out the time to settle. The settlement day got delayed twice as a result, and the second time was because they miscalculated the shortfall!
Good rates but you might need to wait :)
The brokers are polite, provide detailed information and easy to reach.
The rates are good.
The process takes around 50% longer than in other banks.
Valuation team requires some babysitting.
Good rates, professional and easy to setup.
Broker answered all our questions and was very responsive. Easy to setup and good mortgage rate for first home owner-occupier. All associated costs were listed in the brochures and website.
Customer experience was great and helpful. The lending process was effective and worked with me throughout the process to get the loan complete as quickly as possible. I am satisfied and would recommend this product to friends and family.
Reduce Home Loan was pretty good under the current conditions of covid19.
Reduce Home Loan was pretty good themselves with the covid19 changes and updates. Being a first home buyer it was a very stressful, not too great communication between all parties and not very organised process. My settlement date was moved twice and lucky settled on the third attempt. The actual loan it's self they offer is a good deal compared to the big four banks but the main banks deal with the first home buyers grant and Reduce Home Loans do not.
Reliable and Good Service
Jacqueline and the team have been very diligent and transparent in providing the details and clarifying my question. Greatly appreciate and thanks the team for their support and patience in finalizing the loan settlement.
Best variable rate on the market
The application was very comprehensive and took about 2 months.
During which the reserve bank reduced interest rates and this was applied to our application in full.
We now have a low upfront cost, no annual fee loan with one of the lowest variable rates on the market.
Great Low Rate home Loan
Great value, low rate loan company. Would recommend if you are able to get everything done yourself. Process took a while from start to finish, but overall satisfied with the outcome. Will be saving 000's over the years now.
Helpful Staff - (Lisa and Lindsey)
Lisa Whitla was very nice to deal with and helped me with the process. It was my first time getting a loan and there were a heap of documents to sort through and it was quite overwhelming. She was very patient with me and helped me get through the initial set of documents.
Lindsey from the settlements team also helped me with understanding some of the terms and paperwork.
I know it was a testing time with COV-ID but all the staff i talked with were very patient and nice.
Good rate but took a lot of work
David was very helpful and attentive throughout the entire process, however there was a lot of difficulty getting the loan approved on time which resulted in the settlement being pushed back a couple of weeks, but I still ended up with an exceptional homeloan rate by the end of it
Spot on peops..!
Great work Team Reduce..! The process took a while but we got there in the end and the interest rate is going to save us well over $6000 a year..! I am planning to recommend Reduce to everyone I know..!
Helped to find lowest interest rate and good. little delayed in process. evaluation fee gone up little. but otherthan that i am happy to recomend reduced home loans to my anyone.
Questions & Answers
Why are the fees so huge and why are so many members accusing you of bait and switch, where months after they have their loans established they get a letter advising their interest rates are going up?
Some of the comments are quite serious and places doubts on whether Reduce can then be trusted or not if they sign you up on one rate, only to increase it in a few months. Has many people experienced it?
Also people are saying their exit fees are very high. How high are they compared to others?
I am considering refinancing soon with reduce and I was wondering if there rates go up soon after changing over. I was convinced a few years ago by a broker to refinance with AFG and 2 days after my loan changed over the rate went up quite a bit and I would have been better off staying with Peoples choice. I don't want to waste my time changing if this will happen again.
I am an existing customer my rate was 2.42% it will soon reduce to 2.27%. I have not experienced any issues with rates, although I have noticed they are now advertising at 1.77% so do not reward loyalty. The process to refinance is beyond slow, frustrating and you need to jump through hoops expect it to be even months before it is finalised. So you need to weight that up.
I am also an existing customer at current rate of 3.94% IO Investor loan when current advertised is 3.19% for the same product. Contacted my manager who said that no improvements to rate are possible. I'm now looking at refinance for 2 loan products elsewhere closer to the advertised Reduce interest rate. No reward once you are signed up.
They don’t reward loyalty. It’s disgusting they advertise new loans 0.5% lower than loyal customers. Also the discharge fees are excessive!
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